Visa Inc. (NYSE:V) Shares Sold by Chatham Capital Group Inc.

Chatham Capital Group Inc. lessened its position in Visa Inc. (NYSE:V) by 1.6% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,994 shares of the credit-card processor’s stock after selling 115 shares during the period. Chatham Capital Group Inc.’s holdings in Visa were worth $2,451,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Riverstone Advisors LLC acquired a new position in Visa during the fourth quarter worth about $217,000. Blue Rock Wealth Management LLC acquired a new position in Visa during the fourth quarter worth $306,000. Aptus Capital Advisors LLC boosted its position in Visa by 19.8% during the fourth quarter. Aptus Capital Advisors LLC now owns 182,658 shares of the credit-card processor’s stock worth $57,727,000 after purchasing an additional 30,185 shares in the last quarter. Journey Strategic Wealth LLC grew its holdings in Visa by 16.4% in the fourth quarter. Journey Strategic Wealth LLC now owns 9,678 shares of the credit-card processor’s stock valued at $3,058,000 after purchasing an additional 1,361 shares during the last quarter. Finally, King Wealth Management Group raised its stake in shares of Visa by 9.0% during the 4th quarter. King Wealth Management Group now owns 74,874 shares of the credit-card processor’s stock worth $23,663,000 after buying an additional 6,172 shares during the last quarter. Hedge funds and other institutional investors own 82.15% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on V. BMO Capital Markets lifted their target price on shares of Visa from $370.00 to $380.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 30th. Piper Sandler upped their price objective on Visa from $383.00 to $384.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Jefferies Financial Group lifted their price objective on Visa from $400.00 to $410.00 and gave the stock a “buy” rating in a research report on Tuesday, May 27th. Evercore ISI began coverage on shares of Visa in a report on Wednesday, April 9th. They issued an “in-line” rating and a $330.00 target price on the stock. Finally, Oppenheimer reiterated an “outperform” rating on shares of Visa in a report on Thursday, February 13th. Five analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $372.80.

Insiders Place Their Bets

In other Visa news, insider Paul D. Fabara sold 14,813 shares of the stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $355.04, for a total transaction of $5,259,207.52. Following the transaction, the insider now directly owns 26,413 shares in the company, valued at $9,377,671.52. This represents a 35.93% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $350.44, for a total transaction of $3,020,792.80. Following the completion of the transaction, the chief executive officer now owns 537 shares in the company, valued at approximately $188,186.28. The trade was a 94.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 121,948 shares of company stock worth $41,546,299 in the last quarter. 0.13% of the stock is owned by corporate insiders.

Visa Price Performance

V stock opened at $368.04 on Thursday. The firm has a market cap of $679.09 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 2.33 and a beta of 0.96. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.12 and a current ratio of 1.12. Visa Inc. has a 1 year low of $252.70 and a 1 year high of $371.75. The stock has a 50-day simple moving average of $344.66 and a 200-day simple moving average of $334.72.

Visa (NYSE:V) last issued its quarterly earnings data on Tuesday, April 29th. The credit-card processor reported $2.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.68 by $0.08. The company had revenue of $9.59 billion during the quarter, compared to the consensus estimate of $9.57 billion. Visa had a net margin of 54.27% and a return on equity of 54.79%. Visa’s revenue for the quarter was up 9.3% on a year-over-year basis. During the same quarter last year, the company earned $2.51 earnings per share. On average, equities analysts predict that Visa Inc. will post 11.3 earnings per share for the current fiscal year.

Visa Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Tuesday, May 13th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 0.64%. The ex-dividend date of this dividend was Tuesday, May 13th. Visa’s dividend payout ratio (DPR) is 23.72%.

Visa Profile

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.